Whoa, whoa, whoa, whoa, whoa!
I chatted with AMEX this morning. I have an offer to upgrade to the HHonors Aspire ($450 AF card) and earn an additional 150,000 HHonors points and gain diamond status. Through chat, I found out that this is upgrading my card, not opening a new card. My annual fee will be prorated, but I would have full benefits. Is there a reason not to do this? I asked about downgrading again if I didn't find that I was using the benefits, and was told I could downgrade in 1 day if I'd like. The prorated amount of the AF would be $262. I would have $250 in airline credits (not sure how we would maximize this benefit since DH often has free bags with his military status), and $250 in Hilton resort charges.
We have several Hilton visits planned for this year; the added benefits of diamond and extra points would be nice. I would also automatically earn a free night stay on my card anniversary instead of spending $15,000 to get that perk.
This wouldn't change my Chase 5/24 status or be opening a new line of credit, right? I just have to weigh the pros/cons of spending an additional $262 in annual fees?